FEBRUARY 13, LOS ANGELES – Madre Mezcal Inc. is excited to announce the closing of its most recent funding round, which raised $3M in 2024. The brand previously raised a $3M Series A in 2021 led by Room9.
The new investment allows the company to continue its strong trajectory of growth with additional investments into brand and trade marketing, additional sales ambassadors, and further international development. The brand currently has a portfolio of three mezcal expressions, along with an additive-free tequila, and a mezcal-based RTD, with distribution in 31 states in the USA and 20 countries.
Amongst the notable investors in this round is No Sleep Beverage, a strategic value-add venture investor focused solely on Beverage Alcohol.
"Madre Mezcal has some of the best aesthetics of any spirit brand in recent memory," says Nick Papanicolaou, CEO of No Sleep Beverage, "and that branding resonates incredibly well with Madre’s consumer. The numbers clearly support what we intuitively felt about Madre, and we are thrilled to be supporting the founders on their journey".
The investment comes off Madre’s ongoing growth amid a challenging year for the spirits industry. In 2024, the brand reported YOY growth of 14% in a year when the alcohol industry grew just 1%. The company continues to be the leading mezcal brand in the USA by retail velocity, according to Nielsen IQ, underlining the strength and salience of the brand with its consumer base.
“While 2024 was a tough year for the industry as well as the broader economy, we continued to outpace the market and ended up with our strongest quarter ever in Q4,” said Chris Stephenson, CEO of Madre Mezcal. “Closing this round underlines the strength of the brand and also the level of confidence investors have in the Madre team.”
Stephenson continued, “we are fortunate to have partnered with No Sleep Beverage who not only have a significant understanding of the spirits M&A world but also have a strong understanding of culture and brand. Partnering with them is giving us a unique new voice at the table.”
Madre introduced Madre Tequila in 2024, which has gained strong retail distribution in just a matter of months. Reflecting consumer sentiments around better-for-you products, Madre Tequila is driving a new category of growth for the industry by focusing on an additive-free, still-strength spirit.
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About Madre
Madre is a celebration of Mother Earth, offering artisanal mezcal made in the rural hills of Oaxaca and additive-free tequila made in the highlands of Jalisco. Crafted with intention by using nature’s most intrinsic elements – local water, natural air-borne yeast, and the inherent flavors of the agave plant, Madre Mezcal and Madre Tequila reflect the essence of nature in its purest form. In addition to Madre Tequila, Madre offers three mezcal expressions, Madre Ancestral, Madre Ensamble and Madre Espadin, as well as Desert Water, a line of ready-to-drink canned mezcal cocktails featuring its Espadin varietal. Madre Desde Siempre.
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